CAI-NJ April 2021

HML-4488 construction ad mech02.qxp_1/2 pg vertical 9/17/15 4:14 PM Page 1

A YEAR LATER... from page 18.

and set maintenance assessments at appropriate levels. This would also include determining the level of delin- quencies that might incur. The budget should include line items for unantici- pated expenses ensuring cash flow is available to pay for these expenses if they arise. The idea is to have consistent, sus- tainable assessment levels that the res- idents can predict and will have the

Who canYOUR Association count on today for guidance in Transition and Construction Defect Litigation?

“Proper planning helps the community avoid having to utilize special assessments or substantial increases in maintenance assessments.”

A Professional Corporation

Hueston McNulty, P.C. Defense and General Counsel Serving New Jersey, New York & Pennsylvania N Value–Experience–Quality We provide our Association clients with qual- ity and value.We strive to solve the problem– resolve the issue–and make life easier for our Associations and their property managers. Samuel J. McNulty, Esq. smcnulty@huestonmcnulty.com /www.huestonmcnulty.com Tel: 973-377-0200 / Fax: 973-377-6328 Florham Park - Sparta - Toms River - Philadelphia - Manhattan

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ability to pay. Not all residents have the ability to pay special assessments. Proper planning helps the commu- nity avoid having to utilize special assessments or substantial increases in maintenance assessments. Your asso- ciation’s agility will help you cope. The financial impact of COVID-19 may not disappear so quickly and we all need to keep that in mind. We hope this article stimulates some thought! n

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